ES Journal Archive (2006 - 2008)

Status
Not open for further replies.
Quote from Spydertrader:

.... and the five.

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1488007>
More...

185 clicks on chart, I bet I can beat that with mine, watch this, currently 70 clicks on page 2061, time is 7.50 EST.

edited - time now 8.04am, my chart's been clicked 203 times vs Spyder's 197 now :D

edited - time now 8.08 and Spyder's chart click count wins by 1 click (204). Spyder - you win!

In last couple of minutes ES Journal's pages have been clicked 4 times, but Spyder's chart has added another 8 clicks, is somebody doing a refresh there?
 
Alright... Here are the higher level sr zones for the day.

If you remember I stated a tendency for the market to gap up on employment report day and then decline for the following couple days. Part of this has been fulfilled and it will be interesting to see if it will continue.

The market is still bullish and I am looking for another long entry to carry up to new highs. I like the 1530-1531 area as well as 1526-1527.50.

ES is retesting the key pivot from last week in the premarket session. If it holds then a rally up to the first resistance zone 1546.50-1548 is a high probability.
 

Attachments

Price levels, based on past 10 trade sessions
* = significant

6/4/07 ES intraday
1537.50
1533.50*
1532.00
1528.50
1525.25
1523.50*
1522.25
1518.00 \
1517.00 *
1516.00 /


6/4/07 YM intraday
13674*
13617
13606
13579
13556
13537*
13517


6/4/07 ER intraday
854.6
847.5*
845.7
839.8*
836.0*
833.2
830.6
828.3

6/4/07 NQ intraday
1935.75*
1930.00*
1927.50*
1920.50
1917.50
1907.00*
1900.50*
1897.75*
1894.50*
1891.75
1886.00

Good trades to all
Osorico :)

EDIT: just a reminder, Thursday, 6/7/07, is roll-over for most retail traders.
 
thank you, i'll have to look into it further. my research with breakout models has resulted in too small of profit factors, perhaps volume can be used as a filter.

Quote from smilingsynic:

Arguably, volume early in the day helps determine whether the day will be choppy and trendless, or whether there is active participation and, hence, increased odds that equities are being repriced (i.e. a runner day).

Lower than average volume early suggests near-term (for that day) chop. Look to sell resistance and buy support.

Higher than average volume suggests trend. Look to buy breakouts.

Of course, volume is a small piece of a big puzzle.
More...
 
Quote from apex82:

They didn't even step into the office today....
More...


Yep, welcome to the summer season.

If the historical record is accurate, low volume small range days will continue from here.

As regards use of volume, today we had a nice example of how volume can be used to signal a trade

Low bar/candle volume up until 11:30am PST, when we saw 24,381 contracts move....Look at the bar...noticed that it was a move down but, buyers came in to support the price, and reject the move down...check out the next bar on your charts. It was just over 6,000 contracts..from then price auctioned up

The "buying tail" on (relatively) big volume was the primary signal for a low risk long.
 

Attachments

Same thing here earlier in the day

One thing that occurs to me regarding "research" is that you have to look at the data from different angles. The idea that you look at volume to signal breakouts is okay I guess, but it has mostly been done already. Those of us who actively research already know that the costs are prohibitive if you only use volume as an "on or off" breakout signal. What you have to do in addition is to look at the environment around the bar. What is the price point?, Is price testing a pivot or a previous consolidation point? Is a buying or selling tail generated by the volume action?

Good luck
Steve
 

Attachments

Status
Not open for further replies.
Back
Top